A new study carried out by Irish Life in conjunction with Behaviour & Attitudes in 2015, has found that 55% of Irish workers are concerned that they would not have enough money to retire comfortably, with this of most concern to the group aged 50-64 years (64%).

A third of people were also worried about not being able to meet household debt commitments. Only 13% of people said they had few or no financial worries.

The study of more than 2,000 adults also indicates that 71% of working households are on track to retire without a significant standard of living adjustment, the remainder will experience a significant drop in their standard of living.

A surprisingly high number (22%) of mid to high income households will also carry mortgage debt into retirement.

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